3 Artificial Intelligence (AI) Stocks to Load Up On in August
Keithen Drury, The Motley Fool
Sun, August 9, 2026 at 6:00 PM GMT+5:30
4 min read
- NVDA
+2.27% - MU
-0.44% - AMZN
+0.82%
August has just begun, but the events in late July and early August have really shaken up the artificial intelligence (AI) investing landscape. Several winners and losers have appeared, and even though earnings season isn’t over yet, there are plenty of stocks worth considering right now
A few stocks that top my list are Nvidia (NASDAQ: NVDA), Micron (NASDAQ: MU), and Amazon (NASDAQ: AMZN). All three of these look like great AI options now and are worth buying at these levels
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a “Double Down” signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same “Total Conviction” signal is flashing for a company 1/100th the size of Nvidia. Continue »
1. Nvidia
Nvidia hasn’t been the Nvidia most people remember in 2026. For the previous three years, it was one of the top stocks in the market to own. This year, it has risen around 17%, which is just barely better than the S&P 500(SNPINDEX: ^GSPC). However, that could change shortly
Nvidia reports its fiscal second quarter results at the end of August, and there have been several indications that it could be a blowout quarter. Many AI hyperscalers have raised spending guidance, and one of Nvidia’s chief competitors, AMD, reported a blowout quarter. Unlike AMD, Nvidia’s stock isn’t highly valued heading into earnings, and that could be a recipe for the stock to explode higher
Nvidia trades for a pretty reasonable price tag of 24 times forward earnings. You’ll be hard-pressed to find a stock growing as fast at that cheap of a price, and I think it’s primed to skyrocket late in August following earnings
2. Micron
Micron is having a great 2026, with the stock more than tripling. However, it’s well off its all-time high due to skepticism about the longevity of the memory chip price boom
Micron makes memory chips, which have become a major bottleneck in the AI build-out. When supply is low and demand is high, prices soar. This benefits companies like Micron, and its earnings and profits have soared as a result. Still, this won’t last forever, and the market is worried that prices could fall in the near future
However, Micron’s management team doesn’t believe that to be the case. Because it will be mid-2027 before more production capacity is available, they believe the tightness in the memory chip market will persist beyond 2027. That leaves plenty of room for prices to stay elevated, and for Micron to succeed
As a result, I think Micron is a solid stock to buy on the dip, as the market will eventually come back around to buying this major winner
